Tourism Industry News
Airlines Back In Profit In Q3 But 2009 Losses Loom
Airlines outside Europe crawled back into profit in the third quarter, but the industry remains on track for a net loss of USD$11 billion this year, the International Air Transport Association (IATA) said on Tuesday.
A sample of 75 major airlines reported a combined net profit of USD$0.7 billion in the third quarter compared with a USD$3.4 billion loss in the third quarter of 2008, IATA said in its Airlines Financial Monitor for October-November.
IATA said its previously forecast net loss of USD$11 billion in 2009 "still looks likely". It has also forecast that the sector will lose USD$4 billion on a net basis in 2010.
Get the full story at: Airwise
See Also Other News